The key benchmark indices closed negative on the third consecutive week. Volatility was high during the week. Better-than-expected US service industries data fueled speculation that the US Federal Reserve will reduce stimulus to the US economy soon. Indo-Pak tension weighed on sentiment. The rupee hit record low against the dollar during the week. Going ahead, the last batch of Q1 corporate results, macroeconomic data, trend in investment by foreign institutional investors (FIIs), movement of rupee against the dollar, and trend in global markets will dictate the direction of the market.
Techno Funda Recommendation
As the prevailing trend of Nifty is down, we are not initiating any fresh recommendation this week. For the pending recommendations, we have updated all the relevant information